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IMPORTANT DECISION. On the 3d of January last, the Davenport Savings Institution was by order of the court, enjoined from the further transaction of business, and the whole concern was placed in the hands of a receiver. This was done at the instance of two of the stock holders, Messrs. French and Davis, lumber merchants of that city, who averred that its officers had used the funds of the Institution in certain speculations to keep control of the First National Bank, they being the officers of both concerns. The appointment of a Receiver was considered just, by many, but not so, by the outs," who accordingly rook the matter up to the Supreme Court, where by an unanimous voice of the bench, the decision in the lower court was reversed as to every point involved. The Democrat gives the proceedings of thir last decision as follows : "That the injunction be dissolved immodiately ; taxes the cost of the appeal, expenses of the Receivership, including compensation for his services, together with all other costs of litigation, upon the plain. tiffa-Messrs- French & Davies. It directs the Receiver, upon a receipt of a certified copy of the order of the Court, to turn over the entire assetts and property of the Institution to the officers of the same, without any diminution except funds put out to deposition." This is a total and complete vindication of the Davenport Savings Institution. They had built up a splendid business, and the Supreme Court of the State decides that it was assailed without warrant of law, and metes out all the reparation it could do under this action. What more that Court will grant when the question comes up in another shape remains to be seen. The officers were to take charge of the Institution to-day.
